QYReports

According to the Smart Agriculture Market survey report, the market is expected to witness a relatively higher growth rate during the forecast period 2018-2023.

Pune, India -- (SBWIRE) -- 02/09/2018 -- Smart agriculture market is expected to grow from USD +5.17 Billion in 2016 to USD +11.22 Billion by 2022, at a CAGR of +13.26% between 2017 and 2022. Increasing application of technologies in agriculture, rising need of monitoring livestock performance and health, government's support to adopt modern agricultural techniques, and increasing demand for food worldwide are driving the growth of the smart agriculture market, highlighting each of the geographical segment. The key driving forces, detaining factors, limitations, prominent trends, opportunities, and future prospects of the global market have also taken into consideration in this market study.

The market outline segment of the report investigates market progression, for instance, drivers, restrictions, and opportunities that, at present, strongly influence the Global Smart Agriculture Market and could affect the market in future too. A piece of the overall industry investigation has been given in the report with a particular ultimate objective to elucidate the intensity of the competition between driving business sector players working over the globe.

Increasing agricultural production and crop losses due to transportation, post-harvest pest attack, etc., are the primary factors driving the Smart Agriculture market, as they are highly effective in eliminating the pests. In addition, the growing storage technology and high production efficiency are expected to drive the market in the future. The domain has certain constraints, such as stringent regulatory concerns raised with the application methodology, among others, which are restricting back the market growth.

North America has acquired the most astounding market estimate in 2018 because of expanding mindfulness among agriculturists for protecting crop production from bugs, rodents, nematodes, and so forth, to eliminate agricultural commodity losses. In any case, Asia Pacific is probably going to achieve a higher CAGR amid the gauge time frame because of developing agricultural practices especially in India, China, and Indonesia which is anticipated to push the Smart Agriculture market size in the region over the estimated time period. Latin American market size is likewise inclined to acquire prominent gains in the coming years because of increasing capability of Brazil in approving advanced agricultural practices and storing techniques.

With all the data congregated and scrutinized using SWOT analysis, there is a vibrant picture of the competitive scenario of the Global Smart Agriculture Market. Openings for the future market growth were uncovered and preoccupied competitive threats also textured. The drifts and inclinations of this market were studied and it shows that there was an illustrious strategic direction observed. By the avaricious market background and using the persistent norms, approaches, and tendencies of other leading markets for citations, market information was understood.